Slowly some healthy scepticism about the strength of those worldwide green shoots is emerging in financial markets, but it’s nothing dramatic yet. The Aussie dollar fell slightly against the US dollar and Norway lifted interest rates.
European economies
Riding the coattails of Asia’s success
Despite initially being the hardest hit by the GFC, Asian economies have proven more resilient than US and Europe. Manufacturers are hopping on board, exporting to developing countries like China and India and reaping the rewards.
Kohler: Europe is the real story here
Say what you like about the leadership in the United States, at least they have some., writes Alan Kohler.
The other big policy launch … from the RBA
The Reserve Bank made clear this morning that for the next two years at least, we can expect little change in inflation around its present high level of 3% and therefore little change in the current level of interest rates of 6.7% for the bank’s cash rate, or higher, if need be. Glenn Dyer reports.
